AMI Asset Management Corp Acquires 47,667 Shares of Genius Sports Limited (NYSE:GENI)

AMI Asset Management Corp raised its holdings in Genius Sports Limited (NYSE:GENI) by 73.7% during the first quarter, Holdings Channel.com reports. The institutional investor owned 112,360 shares of the company’s stock after buying an additional 47,667 shares during the quarter. AMI Asset Management Corp’s holdings in Genius Sports were worth $1,125,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Divisadero Street Capital Management LP boosted its position in shares of Genius Sports by 32,386.5% during the fourth quarter. Divisadero Street Capital Management LP now owns 3,551,751 shares of the company’s stock valued at $30,723,000 after purchasing an additional 3,540,818 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Genius Sports during the fourth quarter valued at approximately $24,712,000. Loomis Sayles & Co. L P bought a new stake in shares of Genius Sports during the fourth quarter valued at approximately $15,553,000. Capital Research Global Investors boosted its position in shares of Genius Sports by 14.2% during the fourth quarter. Capital Research Global Investors now owns 12,952,320 shares of the company’s stock valued at $112,038,000 after purchasing an additional 1,610,078 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Genius Sports during the fourth quarter valued at approximately $12,332,000. 81.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GENI has been the topic of several research reports. BTIG Research lifted their price target on Genius Sports from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, April 22nd. Craig Hallum set a $15.00 price objective on Genius Sports in a research note on Tuesday, March 4th. Needham & Company LLC reiterated a “buy” rating and set a $13.00 price objective on shares of Genius Sports in a research note on Thursday, June 12th. The Goldman Sachs Group lifted their price objective on Genius Sports from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Finally, Benchmark reiterated a “buy” rating and set a $12.00 price objective on shares of Genius Sports in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.19.

Genius Sports Stock Performance

GENI opened at $9.98 on Thursday. The stock has a market capitalization of $2.15 billion, a P/E ratio of -52.53 and a beta of 1.87. The company’s 50-day simple moving average is $10.07 and its two-hundred day simple moving average is $9.53. Genius Sports Limited has a 52-week low of $5.12 and a 52-week high of $11.40.

Genius Sports (NYSE:GENI) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. The firm had revenue of $143.99 million during the quarter, compared to analysts’ expectations of $143.31 million. Genius Sports had a negative net margin of 8.54% and a negative return on equity of 6.90%. The firm’s quarterly revenue was up 20.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.11) earnings per share. Research analysts forecast that Genius Sports Limited will post -0.1 EPS for the current fiscal year.

Genius Sports declared that its board has initiated a share buyback program on Tuesday, May 6th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 4.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Genius Sports Profile

Genius Sports Limited engages in the development and sale of technology-led products and services to the sports, sports betting, and sports media industries. It offers technology infrastructure for the collection, integration, and distribution of live data of sports leagues; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services.